Leading organizations in the medical sector are looking to foster innovative spirit in the industry while advancing various research and development initiatives. In one of the latest instances, AstraZeneca set an example by announcing the launch of three initiatives, which will be undertaken on a large scale. Through this the company intends to encourage the development of novel medicines.
The news was unveiled to the world at the 2nd annual China International Import Expo (CIIE), which was held in Shanghai. The initiative included the creation of a state of the art Global Research and Development Centre, a very first of its kind Healthcare Industrial Fund alongside China International Capital Corporation, and an artificial intelligence (AI) Innovation Centre.
The company also revealed that the Global R&D Centre will conduct various research and development activities for discovery of innovative therapeutics. Furthermore, it intends to increase the AstraZeneca’s R&D headcount to nearly 1000. The program will primarily focus on the most prevalent ailments in China, which is home to nearly a quarter of global disease burden.
China in the last couple of years has emerged as a global powerhouse. The recent scientific discoveries witnessed in the nation, has further bolstered its global dominion. This was one of the chief drivers of the company’s decision to follow scientific discoveries by expanding research and development presence in the nation.
The company intends to make the most use out of its global resources to strengthen the connection between the rest of the world and China, with regards to healthcare research and innovation. Through this, it plans on bringing international standard of healthcare for the benefit of patients. In the coming years the country is expected to witness several developments in the healthcare sector. Besides this, various other companies are likely to expand their footprint in China, giving a significant impetus to the country’s research and development scene.
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